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Article: NLMK to pay DBO Holding $234 mln for termination of John Maneely deal (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- March 11, 2009
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NLMK to pay DBO Holding $234 mln for termination of John Maneely deal (Part 2)
MOSCOW. March 11 (Interfax) - Novolipetsk Steel (NLMK) (RTS: NLMK) and DBO Holdings, Inc. have signed a settlement agreement with respect to their dispute concerning NLMK's proposed acquisition of John Maneely Company, which NLMK terminated in November 2008, NLMK said in a press release.
The agreement provides for the full mutual release and discharge by NLMK and DBO from their claims arising from the transaction. Pursuant to the terms of the settlement agreement, NLMK will pay DBO a settlement amount of $234 million within four business days of signing.
It was ...